Fintan Warfield (Sinn Fein) | Oireachtas source

I move recommendation No. 15:

In page 103, between lines 30 and 31, to insert the following: “Report on Deferred Tax Assets

44.The Minister shall, within six months of the passing of this Act, lay before both Houses of the Oireachtas a report on the potential for restricting banks from utilising the deferred tax assets scheme.”

My colleague, Senator Higgins, is at the final meeting of the Oireachtas Joint Committee on Gender Equality into which both she and I have put many months of work, on the back of a very important Citizens' Assembly on Gender Equality report. I hope that Senator Higgins will be able to revisit this recommendation on Report Stage.

Many times in recent years Senator Higgins has raised the fact that Irish banks shaved €400 million from their tax bills in 2017 by offsetting financial crisis losses against taxable profits. What is most shocking to the average person is that these losses can be carried forward indefinitely to shield banks' future profits from tax. I hope the Senator will be able to resubmit this recommendation on Report Stage if I withdraw it now.